Question 12 (8 points) Bunnies, Inc. purchased trading securities at a cost of $1,000 on December 10 by debiting investment-Carrots and crediting "Cash". This purchase makes up the entire trading securities portfolio On December 31, the portfolio had a fair value of $1,500. On March 3, Bunnies, Inc. sold the entire portfolio for $1,600. Prepare the journal entry to record the sale of the trading securities on March 3. (eliminate the date in the journal entry Question 13 (8 points) Briefly discuss what determines whether an investment is classified as a trading security investment or as an available for sale investment Previous Page Next Page Page 6 of 11 a 9 9 *291998 NIOWANO hop